I didn't look at the pattern closely enough the first time, I thought it was worked in the round, but it isn't.
You need to begin at the bottom of the chart and read row 1 from left to right because it is a wrong side row. Each box on the chart stands for a stitch and shows what stitch it is from the right side so you need to work the opposite stitch from what is shown on row 1. Row 1 is P1, k2, p2 *k2, p2; rep from the * to the last 3 sts, k2, p1.
All of the cable crosses are done over groups of 4 sts as is shown by the key at the bottom. The tricky thing is that on rows 6, 10, 14 and 18 the groups of 4 are not always all inside the repeat lines. For instance on row 6 you K1, then the first part of the 4 box symbol is outside the repeat so when you put the 4 boxes together you have the symbol at the very bottom of the key. They call it (top line after the symbol) C2 over 2 right P. And line 2 next to the symbol tells you how to do it. Then you do the next cable which begins with the 3rd box inside the repeat line. That is the second to last symbol in the key--they call it C2 over 2 left P and uses 4 boxes (sts). Now you still have 2 boxes before the end of the repeat and to get the other 2 boxes for what you do next you have to go back to the beginning of the repeat. So when you put those 4 boxes next to each other in order you find what you do is another C2 over 2 right P.
It would be way easier for you to think of it this way. Row 6: K1,* C2 over 2 right P, C2 over 2 left P, rep from * till you have 1 st, k1.
Row 10: K1, *C2 over 2 left P, C2 over 2 right P, rep from * till you have 1 st, k1.
Row 14: Repeat row 6.
Row 18: Repeat row 10.
The instructions for the inc > with the line under it (the make one purlwise)is given as :
Pick up the strand between the next two sts k-wise;purl into the back of this st.
I think this would be more clearly described as "with the left needle pick up the strand running from the next stitch on the left needle and the last stitch on the right needle from the front, purl it through the back."
The M (or make 1) is described as:
Pick up the strand between the next two sts k-wise;knit into the back of this st.
Again you are using the left needle to pick up the running thread between the next stitch on the left needle and the last stitch on the right needle from the front, knit into the back of the strand.